Femi Otedola has significantly increased his stake in First HoldCo Plc by acquiring an additional 147.74 million shares for N20.7 billion. This transaction, executed on August 14, saw shares purchased at N140 each through Calvados Global Services Limited, a firm linked to the billionaire businessman.

This latest investment is part of a larger strategy by Otedola to bolster his holdings in the financial services group, which he chairs. His total disclosed investments in First HoldCo this year have now surpassed N412 billion. Otedola's aggressive acquisition strategy has been particularly pronounced in the latter half of 2026, with a series of significant purchases that have captured the attention of investors.

Earlier this year, Otedola made headlines with several major transactions, including the purchase of 549.54 million shares for approximately N43.41 billion in May, followed by 672.9 million shares valued at N29.6 billion in June through a private placement programme. In July, he continued to ramp up his investments, acquiring 706.13 million shares for about N77.58 billion on July 22. His most substantial acquisition came later that month, when he purchased 1.78 billion shares for around N222.21 billion.

In addition to the recent share acquisition, Otedola also bought 138.04 million shares for N18.11 billion in early August. The sustained buying spree reflects Otedola's ambition to increase his ownership in First HoldCo beyond 51 percent.

The share price of First HoldCo has been on a strong upward trend, closing at N140 on August 17, with an intraday high of N150 earlier in the month. Otedola's increasing stake is being closely monitored by market analysts, as it represents a significant shift in the company's ownership dynamics. His moves are seen as a strategic effort to secure majority control, which could reshape the future of First HoldCo and influence investor sentiment in the financial services sector.